think we gooted when we hired that new assistant controller," said Ruth Scarpino, president of Provost Industries. "Just look at this report that he prepared for last month for the Finishing Department. I can't understand it." $ 8,510 Finishing Department costs: Work in process Inventory, April 3, 752 nits; materials 100% complete; conversion complete Costs transferred in during the month from the preceding department, 2,250 units Materials cost added during the month Conversion costs incurred during the month Total departmental costs 22,870 8,766 19,380 $ 59,526 Finishing Department costs assigned to: Units completed and transferred to finished goods, 2,400 units at $24.000 per unit Work in process inventory, April 30, 600 units; materiais e complete: conversion of complete Total departmental costs assigned $ 59,526 $ 59,526 *Consists of cost transferred in, 54 280, materials cost, $2,010, and conversion cost $2,220. "He's struggling to leam our system. replied Frank Harrop, the operations manager. "The problem is that he's been away from process costing for a long time, and it's coming back slowly." It's not just the format of his report that I'm concerned about. Look at that $24.800 unit cost that he's come up with for April. Doesn't that seem high to you?" said Ms. Scarpino. "Yes, it does seem high, but on the other hand, I know we had an increase in materials prices during April, and that may be the explanation" replied Me Harrop. Til get someone else to redo this report and then we can see what's going on." Provost Industries manufactures a ceramic product that goes through two processing departments -- Molcting and Finishing. The company uses the weighted average method in its process costing Required: 1-a. Calculate the equivalent units of production 1-5. Calculate the cost per equivalent urut. (Round your answers to 2 decimal places.) 1-c How much cost should have been assigned to the ending work in process inventory (Round your intermediate calculations to 2 decimal places.) 1-d. How much cost should have been assigned to the units completed and transferred to finished goods? (Round your intermediate calculations to 2 decimal places.) completo con Total dental costs and 55.526 "Consists of cost transferred in 54 280, materials cost $2.010, and conversion cost $2.220 "He's struggling to leam our system.replied Frank Harrop the operations manager "The problem is that he's been away from process costing for a long time, and it's coming back slowly it's not just the format of his report that I'm concemed about Look at that $24.800 unit cost that he's come up with for April. Doesn't that seem high to you said Ms Scarpina Yes, it does seem high but on the other hand. I know we had an increase in materials prices during Apniand that may be the explanation replied Me Harrop. Til get someone else to redo the report and then we can see what's going on Provost industries manufactures a ceramic product that goes through two processing departments-Molding and Finishing. The company uses the weighted average method in its process costing Required: 1-a. Calculate the equivalent units of production 1. Calculate the cost per equivalent unit (Round your answers to 2 decimal places.) How much cost should have been assigned to the ending work in process inventory (Round your intermediate calculations to 2 decimal places 1. How much cost should have been assigned to the units completed and transferred to finished goods? (Round your intermediate calculations to 2 decimal places) Male Convert te do process
